China indicates the release of unprecedented economic measures when it holds its next government meeting.

There are several USA high impact news events for Monday that could affect market sentiment. Pending home sales is expected to increase to 0.5% month on month from a surprise fall of -1.6% last month. Industrial production data is expected to increase to 0.5% month on month. Economists forecast no change in purchases, the worst reading in six months, after a 0.2 percent advance in August, according to a survey ahead of Commerce Department figures due Oct. 29th. Sales excluding motor vehicle dealers may have increased 0.4 percent in September, a sign other merchants had more success selling to customers. The RBA governor Stevens speaks later in the afternoon, investors in AUS and speculators in the Aussie will be looking for any clues regarding a base interest rate cut which appeared to be off the table in last week's notes from the RBA. Japan issues a raft of data on Monday; retail sales, unemployment and household spending which if poor the Nikkei could fall with a corresponding rise in yen as a safe haven. Retail sales are expected to rise, unemployment to fall to 4%, but household spending is also predicted to increase by 0.7%.http://blog.fxcc.com/market-analysis

Upwards scenario: Possible penetration above the resistance level at 1.6205 (R1) is liable to open way towards to our initial targets at 1.6233 (R2) and 1.6261 (R3). Downwards scenario: In terms of technical levels, risk of price depreciation is seen below the support level at 1.6150 (S1). Loss here would suggest to monitor marks at 1.6123 (S2) and 1.6097 (S3) as possible intraday targets.

Upwards scenario: Instrument gained momentum on the upside recently, turning short-term bias to the positive side. Further upwards penetration above the resistance at 97.74 (R1) might enable bullish forces and expose our initial targets at 97.87 (R2) and 98.00 (R3). Downwards scenario: Risk of further market decline is seen below the next support level at 97.44 (S1). Loss here is liable to downgrade currency rate towards to the next supportive means at 97.31 (S2) and 97.18 (S3) in potential.